Lake Winds Apartments Inc

Analysis

Lake Winds Apartments Inc is a registered charity in United States, based in St Petersburg, FL. It received its IRS tax-exemption ruling in March 2001, 25 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Lake Winds Apartments Inc reported income of $57k and spending of $134k, spending 236% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $77k to $57k (-27%), an average of -7.5% a year. The sharpest change came in the year to June 2020, when income rose by 27%. Over the whole period it spent 134% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lake Winds Apartments Inc sits at the 20th percentile: it is larger than about 20% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 25th percentile within FL. Charities of a similar size with the same main cause include Women and Families Facilities Fund ($57k), Nest Alliance ($57k) and Personal Philanthropy ($57k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 35% and program service revenue 64% of the total. Other salaries and wages came to $8,959. At year end it held assets of $632k against liabilities of $1.0m, net assets of -$401k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.